Opinion

Proposition could rebuild job market

The future doesn’t look promising right now. Unemployment is at an all-time high with 14 million people jobless and 25 million unable to find full-time jobs.

President Barack Obama recently proposed the American Jobs Act, which would create 1.9 million new jobs and a one percent drop in unemployment rates by the end of 2012. For those of you about to graduate, or even those just looking for jobs, that’s great news. However, the funding for this draws sharp criticism from Republicans.

There will be a permanent income tax increase, mostly on the wealthy and on corporations. Independent economists have evaluated this plan and say it would succeed, only if it passes by the end of 2011. Otherwise, it won’t effectively lead to an economic recovery. However, Republicans in the House don’t seem to be budging on their opposition to the taxes.

I understand the mindset. It’s “their” money, not the government’s. But this act needs to proceed if we’re hoping to avoid a new recession. After 2012, the stimulus funding for this package will drop significantly. However, if we move ahead and the House works together to meet its demands, then there wouldn’t be a need for cutting Social Security and increasing taxes. The job market would be strong enough to support the creation of new jobs on its own.

This is all very optimistic though. Even if it passes, we won’t see levels of unemployment under five percent for a while. Hopefully, the 1.9 million jobs promised are created, and we can soon climb out of the recession and strengthen the value of a dollar.

 

Natasha Tomchin is a sophomore majoring in history and public relations.


October 2, 2011

Reporters

Natasha Tomchin

Staff EDGE Writer


Around the Web
  • Miami Herald
  • UM News
  • HurricaneSports

The University of Miami football team has another player with a season-ending injury — and this one ...

University of Miami men’s basketball coach Jim Larrañaga received a grand jury subpoena for his phon ...

Get ready for an avalanche of University of Miami defensive backs and linemen descending on the Hard ...

When UM coach Mark Richt summoned quarterback Malik Rosier into his office last year, a few months a ...

Quarterback Malik Rosier of the No. 8-ranked Miami Hurricanes maintains a solid third place in what ...

Univeristy of Miami’s Wynwood Art Gallery holds its annual faculty exhibition featuring thought-prov ...

From a game simulating how whales navigate to a tribute to Ella Fitzgerald, the U showcased some of ...

A new mobile game called Blues and Reds, now available worldwide, aims to help researchers study int ...

A major Lancet Commission report, a three-year project headed by UM’s Professor Felicia Knaul and co ...

With a $6.8 million NIH grant, the UM School of Nursing and Health Studies and FIU Robert Stempel Co ...

The Hurricanes will look to slow down an inspired Syracuse team at Hard Rock Stadium on Saturday. ...

As a Hurricane Club member, you are invited to participate in the 25th Annual University of Miami Ha ...

University of Miami head coach Mark Richt was selected to the 20-member Paul "Bear" Bryant ...

University of Miami sophomore Bruce Brown Jr. was among 21 players named to the watch list for the 2 ...

Head coach Katie Meier and senior forward/center Erykah Davenport will represent Miami Thursday at t ...

TMH Twitter Feed
About TMH

The Miami Hurricane is the student newspaper of the University of Miami in Coral Gables, Fla. The newspaper is edited and produced by undergraduate students at UM and is published weekly in print on Tuesdays during the regular academic year.